Glenorchy Capital Ltd Buys 322 Shares of International Seaways, Inc. (NYSE:INSW)

Glenorchy Capital Ltd lifted its stake in International Seaways, Inc. (NYSE:INSW) by 0.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 50,328 shares of the transportation company’s stock after acquiring an additional 322 shares during the period. Glenorchy Capital Ltd’s holdings in International Seaways were worth $1,809,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in INSW. Bridgeway Capital Management LLC bought a new stake in shares of International Seaways in the 4th quarter worth approximately $14,269,000. Vanguard Group Inc. lifted its position in International Seaways by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 4,759,119 shares of the transportation company’s stock worth $171,043,000 after purchasing an additional 369,145 shares during the period. Clearbridge Investments LLC acquired a new stake in International Seaways during the fourth quarter worth $11,374,000. Empowered Funds LLC increased its holdings in International Seaways by 470.8% in the 4th quarter. Empowered Funds LLC now owns 273,032 shares of the transportation company’s stock valued at $9,813,000 after buying an additional 225,196 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of International Seaways by 685.6% in the 4th quarter. Principal Financial Group Inc. now owns 224,544 shares of the transportation company’s stock valued at $8,070,000 after buying an additional 195,961 shares in the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on INSW shares. Jefferies Financial Group reissued a “buy” rating and issued a $48.00 target price on shares of International Seaways in a research note on Thursday. SEB Equity Research set a $50.00 price objective on International Seaways in a research note on Friday, January 24th.

Insider Buying and Selling at International Seaways

In related news, SVP William F. Nugent sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $33.89, for a total value of $33,890.00. Following the completion of the sale, the senior vice president now owns 55,852 shares of the company’s stock, valued at $1,892,824.28. This trade represents a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $34.66, for a total value of $69,320.00. Following the transaction, the chief executive officer now directly owns 179,557 shares in the company, valued at approximately $6,223,445.62. This represents a 1.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,400 shares of company stock worth $380,086. 1.90% of the stock is currently owned by insiders.

International Seaways Stock Up 3.2 %

Shares of NYSE:INSW opened at $37.78 on Friday. The company has a market capitalization of $1.86 billion, a PE ratio of 3.65 and a beta of -0.01. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. The company’s fifty day moving average is $33.40 and its 200-day moving average is $36.91. International Seaways, Inc. has a 52 week low of $27.20 and a 52 week high of $65.94.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Thursday, May 8th. The transportation company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.21. The firm had revenue of $178.34 million for the quarter, compared to analyst estimates of $176.49 million. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The company’s revenue for the quarter was down 32.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.92 earnings per share. Equities research analysts predict that International Seaways, Inc. will post 7.77 earnings per share for the current fiscal year.

International Seaways Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $0.48 dividend on an annualized basis and a yield of 1.27%. International Seaways’s dividend payout ratio is 5.72%.

International Seaways Company Profile

International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the international flag trade. It operates in two segments: Crude Tankers and Product Carriers. As of December 31, 2023, the company owned a fleet of 73 vessels. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.